TRV and Regional Banks Top Profit Estimates in Friday Reports
Five large-cap companies reported on Oct. 16 and all beat EPS estimates; TRV posted $9.18 per share against $7.39 expected on revenue of $12.41 billion.
Five U.S.-listed companies valued at $10 billion or more reported quarterly results on Friday, Oct. 16, and each posted earnings per share above the consensus estimate, according to FMP's earnings calendar. The group consisted of insurer TRV and four regional lenders: TFC, MTB, CFG and RF.
TRV reported EPS of $9.18 against an estimate of $7.39, a margin of 24.22%. Revenue was $12.41 billion, compared with the $11.36 billion forecast. TRV was the largest company on the day's list, with a market value of $83.1 billion.
Among the banks, MTB earned $5.08 per share versus $4.93 expected, on revenue of $2.55 billion against a $2.53 billion estimate. RF reported EPS of $0.73 against $0.665, with revenue of $1.99 billion, roughly matching the forecast. CFG posted $1.41 per share versus $1.39, while revenue of $2.32 billion was slightly below the $2.34 billion estimate. TFC reported EPS of $1.16 against a $1.14 estimate.
The reports arrived on a day when the financials sector ETF XLF rose 0.45% to 55.52 while SPY fell 1.11%. None of the five reporting companies appeared among the five largest large-cap gainers or decliners for the session. The day's large-cap gainers were led by RTX, PM, CVX, XOM and PEP, while the decliners were led by PLTR and AMD.
The earnings calendar does not state whether results were published before or after the trading session.
Data
| Symbol | EPS actual | EPS est. | Revenue actual | Revenue est. |
|---|---|---|---|---|
| TRV | 9.18 | 7.39 | $12.41B | $11.36B |
| TFC | 1.16 | 1.14 | ||
| MTB | 5.08 | 4.93 | $2.55B | $2.53B |
| CFG | 1.41 | 1.39 | $2.32B | $2.34B |
| RF | 0.73 | 0.665 | $1.99B | $1.99B |
Neutral market summary for information only; not investment advice.
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